#Africa #Markets | 13 Dec

By Rafiq Raji, PhD
Twitter: @DrRafiqRaji

Global markets

  • Asian shares flat
  • Fed widely expected to hike interest rates
  • Investors await outcome of Alabama Senate election

Oil markets

  • Oil recovers on big U.S. crude stock drawdown
  • U.S. crude stocks fall by 7.4 mln bbls – API
  • U.S. gasoline, distillate stocks increase – API

Precious metals

  • Gold prices nearly flat ahead of Fed meeting outcome
  • Spot gold was steady at $1,243.10 an ounce (0051GMT), after marking its lowest since 20 July at $1,235.92 in the last session
  • U.S. gold futures were up 0.3 pct at $1,245.40

Key African events or data releases today
[Posts & comments at my Twitter handle @DrRafiqRaji]

  • 0800GMT   South Africa Inflation rate (Nov-17) (est. 4.7% yy, prev. 4.8%) [fcst: 4.9%]
  • 0800GMT   South Africa Inflation rate (Nov-17) (est. 0.2% mm, prev. 0.3%) [fcst: 0.4%]
  • 1100GMT   South Africa Retail sales (Oct-17) (est. 5.2% yy, prev. 5.4%) [fcst: 5.3%]
  • Uganda interest rate decision (prev. 9.5%) [fcst: 9.5%]

 
Key African events or data releases yesterday
[Posted & commented on some headlines below at my Twitter handle @DrRafiqRaji]

  • France-based Miner AMR starts bauxite production in Guinea
  • Afreximbank pledges up to $1.5 billion to post-Mugabe Zimbabwe
  • Nigeria court drops most corruption charges against Senate president
  • Nigeria central bank injects $210 mln into currency market
  • EU pushes to curb Africa migration more, still split on hosting refugees
  • Guinea allowed $650 mln in non-concessional loans under IMF programme
  • Liberia to hold run-off vote on Dec. 26
  • Amnesty says EU is complicit in violations of migrant rights in Libya
  • South Africa’s Transnet hires banks for US dollar bond
  • Moody’s says challenging operating conditions keeps 2018 outlook for Africa banks negative
  • Namibia’s economic growth seen contracting in 2017 – IMF
  • South Africa’s Zuma rejects reports his office is drafting emergency laws
  • Zimbabwe voters need more time to register after turmoil – parties
  • South Africa’s nearly man Ramaphosa may lead country at last
  • “Fierce and formidable” Dlamini-Zuma eyes South Africa’s presidency
  • Tight race as South Africa’s ANC prepares to elect Zuma successor
  • One Planet summit turns to private sector for climate action
  • Major Nigeria oil union to meet government before planned strikes
  • Namibia’s economic growth seen at 4 pct in 2019/20 financial year – IMF
  • Mauritius central bank names Googoolye new governor
  • IMF says Sudan must float currency to boost growth, investment
  • South Africa’s revenue agency concerned about falling tax compliance
  • Libya’s Nafusa Oil operations hoping to pump 10,000 bpd in Ghadames basin
  • Nigeria plans to repay $647 mln T.bills, yields drop
  • Unfazed by OPEC, Libya and Nigeria seek to boost oil output
  • South Africa’s October manufacturing output up 2.2 pct y/y
  • Cholera resurges in Zambia capital Lusaka, WHO says
  • Botswana’s 2017/18 budget in surplus at half-year mark
  • Yields mixed in weekly South Africa government bond auction
  • South Africa’s trade department, company regulator to probe Steinhoff
  • Zimbabwe’s Mugabe flies to Singapore, first trip since ouster

N.B
Full stories of above headlines are available on Reuters

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